Rhode Island median home price drops 4 percent in June, but is second-highest since 2008


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WARWICK, Rhode Island — The Rhode Island Association of Realtors says the state's median home price dropped 4 percent in June compared with the same month last year, but it's still the second-highest price in six years.

The group says the median price for single-family homes was $230,000 in June. That was down from $240,000 in June 2013, which was the highest median price since August 2008. Total home sales in June were about the same as those in June of last year.

The median sales price from January through June increased 6 percent, compared to the period last year.

Association President Robert Martin says Rhode Island still has higher unemployment than other states and wages haven't kept up with the cost of living for many people, making it difficult for them to move.

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